Table 8-16

-Refer to Table 8-16.Given the information above,what can we say has happened in the economy from 2012 to 2013?
A)The price level has fallen.
B)The price level has risen.
C)The price level has remained constant.
D)Not enough information is available to determine what has happened to prices.

Question

Table 8-16
 
-Refer to Table 8-16.Given the information above,what can we say has happened in the economy from 2012 to 2013?
A)The price level has fallen. 
B)The price level has risen. 
C)The price level has remained constant. 
D)Not enough information is available to determine what has happened to prices.

Quizplus · Accepted Answer

The table shows that the consumer price index (CPI) has increased from 100 in 2012 to 105 in 2013. This implies that the price level has risen over the two years.

Table 8-16 -Refer to Table 8-16.Given the Information Above,what Can We Say